Optimum Prepares for Bankruptcy

The Wall Street Journal is reporting that Optimum is preparing to file for Chapter 11 bankruptcy, although some of us are praying on their downfall due to frustrating customer service. They are likely not going under just yet. Roughly 10 years ago, as a lot of us know, Optimum purchased Suddenlink. They also bought another ISP called CableVision. According to CableTV.com Optimum hasn’t raised their prices since the 2020 pandemic. It’s likely this strategy is what has caused them to be unable to pay down the $26 billion dollar debt from their acquisitions. Every single one of us has horror stories about dealing with Optimum’s customer service. CableTV also did a survey and no surprise at all they got dead last in the customer service department. It's no wonder customers are constantly looking for other options, hurting their retention rates. Is anything going to happen to your service? It's important to clarify that Optimum isn’t going out of business. They’re having to restructure the business to hopefully become profitable so you will not be losing service. What I expect will happen is your bill may increase next year so Optimum can hope to be profitable. We don’t know what that increase will look like yet but it’s good to know to prepare your budgets.